Norges Bank Investment Management (NBIM) released updated Global Voting Guidelines with more stringent board diversity requirements for emerging market companies consisting of at least one director of each gender. The standard remains the same as the 2023 guidelines for developed markets, i.e., at least two directors of each gender. Failure to meet these board representation requirements will prompt a “no” vote against the reelection of the Nom/Gov Chair. NBIM’s expectations of portfolio companies across a wide range of topics are posted here.
This post first appeared in the weekly Society Alert!